Retirement plan guarantees to pay to you

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Reference no: EM13804434

A retirement plan guarantees to pay to you or your estate a fixed amount for 20 years. At the time of retirement you will have $73,425 to your credit in the plan. the plan anticipates earning 9% interest. Given the following information, how much will your annual benefits be?

Present value of $1 PVIF=.18

Future value of $1 FVIF=5.6

Present value of annuity=9.129

Future value of annuity=51.16

Reference no: EM13804434

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